Business & Finance
Latest stories in business & finance
CBN Maintains 26.5% Interest Rate Amid Inflation Concerns
The Central Bank of Nigeria (CBN) has decided to keep its benchmark interest rate at 26.5% to manage inflation and maintain economic stability.
Nigerian Businesses Optimistic About Naira Appreciation, Seek Lower Borrowing Costs
A recent CBN survey reveals that Nigerian businesses expect the naira to appreciate against the dollar and are advocating for reduced borrowing rates.
City of Johannesburg Collaborates with Eskom to Address R5.2 Billion Debt
Facing a substantial debt of R5.2 billion owed to Eskom, Johannesburg's mayor, Dada Morero, has announced plans to work closely with Eskom and the national government to resolve the city's electricity debt crisis.
South Africa Proposes Higher Steel Tariffs to Protect Domestic Industry
In response to an influx of low-priced steel imports and ongoing issues like customs fraud, South African trade authorities have proposed significant increases in tariffs on steel imports to safeguard the domestic industry.
Germany's Services Sector Contracts Amid Economic Uncertainty
Germany's services sector continues to contract, with new orders declining for the third consecutive month due to economic and geopolitical uncertainties.
France's Central Bank Appoints Emmanuel Moulin Amid Political Scrutiny
Emmanuel Moulin has been confirmed as the new governor of the Banque de France, despite facing political resistance during parliamentary hearings.
UK and Gulf States Sign $5 Billion Trade Deal Amid Regional Tensions
The UK secures a significant trade agreement with Gulf Cooperation Council nations, aiming to bolster economic ties amid regional instability.
Australian Stock Market Opens Higher Amid Positive Economic Indicators
The Australian Securities Exchange (ASX) 200 index opened with gains, supported by strong manufacturing activity and positive investor sentiment.
Anthropic Projects $10.9 Billion Revenue in Q2 2026, Achieves First Quarterly Profit
AI company Anthropic anticipates significant revenue growth and profitability in the second quarter of 2026, driven by its Claude Code platform and expanding enterprise customer base.
Wall Street Closes Higher Amid Middle East Peace Hopes
U.S. stock markets ended the day with modest gains as investors focused on potential progress in U.S.-Iran peace talks, despite ongoing tensions over Tehran's uranium stockpile and control of the Strait of Hormuz.
City of Johannesburg Faces Power Supply Threat Amid R5.2 Billion Debt
Eskom warns of potential electricity supply interruptions to Johannesburg due to outstanding debt exceeding R5.2 billion.
UK Government Eases Sanctions on Russian Oil Imports Amid Rising Fuel Prices
The UK government has lifted sanctions on importing Russian diesel and jet fuel refined in third countries, such as India and Turkey, to address soaring fuel prices.
Bank of England Deputy Governor Advocates Reducing Government Bond Holdings to Zero
Sarah Breeden, Deputy Governor of the Bank of England, proposes reducing the central bank's holdings of government bonds to zero to maintain monetary policy flexibility.
Central Bank of Nigeria Maintains Interest Rate Amid Inflation Concerns
The Central Bank of Nigeria has decided to keep the Monetary Policy Rate at 26.5%, citing external shocks as the primary drivers of inflation.
AI and IoT Integration Highlighted at AI Everything Kenya x GITEX Kenya
The AI Everything Kenya x GITEX Kenya event is showcasing the integration of Artificial Intelligence (AI) and Internet of Things (IoT) technologies, emphasizing their role in driving digital transformation and investment in East Africa's economies.
US Stock Market Nears Record High Amid Easing Treasury Yields
The S&P 500 index is approaching its record high, buoyed by easing Treasury yields and stronger-than-expected corporate earnings. The 10-year U.S. Treasury yield has decreased to 4.64%, providing relief to investors concerned about rising borrowing costs.
Oil Prices Volatile Amid US-Iran Negotiations
Oil prices have experienced significant fluctuations following U.S. President Donald Trump's announcement that negotiations with Iran are in the final stages. While Brent crude futures initially fell by 5.63% to $105.02 per barrel, they have since steadied above $105, reflecting market uncertainty as investors await the outcome of the talks.
UK Imposes Ban on Uranium Imports from Russia Amid Sanctions
The UK government has implemented a ban on uranium imports from Russia, effective May 20, 2026, with certain exceptions for existing nuclear facilities.
Consumer Discretionary Stocks Rally Amid Resilient Retail Sales and China Trade Optimism
Consumer discretionary stocks surged following strong retail sales data and positive developments in U.S.-China trade relations.
Microchip Technology to Present at JP Morgan 2026 Global Technology Conference
Microchip Technology is set to present at the upcoming JP Morgan 2026 Global Technology, Media, and Communications Conference.
Global Markets React to U.S.-Iran Tensions and Tech Sector Developments
Global stock markets experienced mixed reactions as U.S.-Iran tensions escalated and the technology sector showed signs of resilience.
Eskom Achieves Milestone with Year Without Load Shedding
Eskom has marked a full year without load shedding, reducing its diesel expenditure by R26.9 billion and signaling improved grid stability.
France Allocates €8 Billion Across Four Treasury Bill Lines
Agence France Trésor raises €7.997 billion through the sale of fixed-rate discount Treasury bills, with settlement scheduled for May 20, 2026.
China's Yuan Hits Three-Year High Amid Economic Uncertainty
China's yuan has reached a three-year high against the U.S. dollar, prompting the People's Bank of China (PBoC) to emphasize exchange rate stability. This development coincides with weaker-than-expected domestic economic data, raising questions about the balance between currency strength and export competitiveness.
U.S. Stock Markets Reach New Heights Amid Tech Sector Growth
U.S. stock markets have achieved record highs, with the S&P 500 and Nasdaq reaching new peaks and the Dow Jones Industrial Average surpassing 50,000. This rally is fueled by strong performances in the technology sector and investor optimism.
Oil Prices Surge Amid Iran Conflict and U.S. Sanctions
Oil prices have risen by approximately 2% to a two-week high, driven by concerns over supply disruptions due to the ongoing conflict in Iran and recent U.S. sanctions. This volatility underscores the geopolitical risks affecting global energy markets.
Global Markets React to Middle East Tensions and Rising Oil Prices
Geopolitical unrest in the Middle East has led to a surge in oil prices, impacting global markets and investor sentiment.
Tech Stocks Surge Amid US-China Trade Talks
Positive developments in US-China trade negotiations have bolstered technology stocks, leading to record highs in major indices.
Babcock & Wilcox Enterprises Announces $200 Million Stock Offering
Babcock & Wilcox Enterprises has priced a public offering of common stock, aiming to raise approximately $200 million.
Morgan Stanley Optimistic About South Africa's Economic Outlook Despite Oil Price Surge
Despite global oil price increases due to Middle East conflicts, Morgan Stanley remains positive about South Africa's economic reforms.